By Erin McCarthy
Qatar National Bank (QNBK.DO), the Persian Gulf state's largest
lender, kicked off emerging-market debt issuance for the week with
a $1 billion bond due 2020 Monday, a person familiar with the deal
said.
The $1 billion offering priced at 99.216 to yield 3%, the person
said. The dollar-denominated bond, which matures April 29, 2020,
carries a coupon of 2.875%.
QNB, like many other Qatari lenders, has been on a buying spree
in recent years. It purchased part of a Libyan bank last year and a
controlling stake in Indonesia's Bank Kesawan the year before. In
January, QNB took full control of the Tunisian Qatari Bank after
buying half of it from the Tunisian government.
Deutsche Bank AG (DB, DBK.XE), HSBC Holdings PLC (0005.HK, HBC,
HSBA.LN), J.P. Morgan Chase & Co. (JPM), Mitsubishi UFJ
Securities International, QNB and Standard Chartered Bank were book
runners on the issue.
Turkish lender Turkiye Is Bankasi AS (ISCTR.IS, TYABY), also
known as Isbank, also tapped international debt markets Monday. It
sold a $250 million reopening of its 3.75% dollar bond due 2018 at
a yield of 3.55%, the person said.
--Nikhil Lohade contributed to this article.
Write to Erin McCarthy at erin.mccarthy@dowjones.com
